Thursday, Mar 12, 2009
Stubborn sellers making things worse
Home.co.uk: Prices ‘On Hold’ Despite Glacial Market
The mix-adjusted average Asking Price for homes on the market in England
and Wales remains essentially unchanged: slight rise of 0.1% since February.
Monthly average price falls observed in just 4 of 9 English regions, Wales and
Scotland.
Asking Prices across England and Wales have fallen 7.1% since March 08.
The average Asking Price reduction in February was £19,840.
Typical Time on Market rises to 173 days for unsold homes for sale.
Posted by tinecu @ 11:50 AM (418 views) Add Comment
2 Comments
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1. landofconfusion said...
"Asking Prices across England and Wales have fallen 7.1% since March 08."
Based on local asking prices I can confirm that. Well, at least since Nov 07 anyway.
"South East
The South East has shown increased resistance to further asking price falls over the
last quarter. However, hopes of a spring bounce look set to fade as the average
Time on Market for unsold properties continues to increase."
Again the highest falls that I've seen here are at ~7% off. Strange thing is, although half of the average estate agent's window has Lettings advertised, they are still pushing for more. Why?
2. Tinecu said...
We seem to be still in the 'denial' stage. It will be over when the time on market figures fall.